Will Europe go it alone on financial regulation following Brexit? Don’t count on it

Following the November election of Donald Trump as U.S. president, an extensive list of long-held governing norms is now up in the air, including everything from immigration policies to trade negotiations to the tax code. The regulatory structure around the financial services industry in this country is also up for review, with potential changes coming to Dodd-Frank and other rules.

But this is not just a U.S. phenomenon. The same populist tide that carried Trump to the White House has been stirring across Europe for the last several years, peaking most recently with the U.K.’s June Brexit vote to leave the European Union.

As a result, rumors have begun circulating that the European Union may soon move to enact its own set of financial regulations, pulling an end run around the existing United States- and United Kingdom-focused structure so that it may exert itself in this new world order.